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1813 Terrace Way Argyle, TX 76226

4 Beds 3 Baths 2,368 sqft Built 2020

$441,315

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $186.37
  • 3 Days on Market
  • MLS # : 14518195
  • Updated Date : 02/12/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,368 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME! Beautiful one story plan split 3 ways for your enjoyment. This home has an open concept with a gourmet kitchen and large family area for entertaining. The Master Suite has windows galore! This one won't last long as it is our model out here in the Award Winning Community of Harvest in Argyle ISD. Ask about our 1-2-10 year warranty and save big with our Energy Saver Program!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$397,184$485,447$441,315

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,533
Property Tax -$877
Property Insurance -$164
HOA -$92
Property Management Fees -$99
CASH FLOW
-$165

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$441,315

PROJECTED PRICE

$2,600

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,948

INVESTMENT

$118,948

Down Payment
$110,329
Rehab Estimate
$2,000
Closing Costs
$6,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,533

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,329
Loan Amount $330,986
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,523

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,600

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,569

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,4954$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1813 Terrace Way Argyle, TX 4
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.10
    •  
  • 1324 E Swan Trail Argyle, TX 1
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
  • 1329 Chickadee Drive Northlake, TX 2
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2017
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
  • 1412 Canary Lane Argyle, TX 3
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.14
    •  
  • 1512 7th Street Argyle, TX 5
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2014
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518195
Last Updated: 02/12/2021
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